MI SB0581

Adds section 51e to the income tax distributions referenced in section 51f, specifying withholding tax capture revenues from certified new jobs under the Good Jobs for Michigan program shall be deposited into the Good Jobs for Michigan Fund.

Creates a new subsection (2) to deposit withholding tax capture revenues attributable to certified new jobs under the H.I.R.E. (High-Wage Incentive for Regional Employment) Michigan program into the H.I.R.E. Michigan Fund created under the Michigan Strategic Fund Act.

Defines terms for subsection (1) as those in section 90g of the Michigan Strategic Fund Act and defines terms for subsection (2) as those in section 90t of the same act.

Amends section 711 to require employers with written agreements under section 90h or 90u of the Michigan Strategic Fund Act to delineate in their tax return reports the portion of withheld taxes attributable to certified new jobs.

Makes this act effective only upon enactment of Senate Bills 579 and 580 of the 102nd Legislature.